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Q7. (14 points) You purchase a stock that will pay a starting dividend of $5 next year, and will then grow its dividend by 3%

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Q7. (14 points) You purchase a stock that will pay a starting dividend of $5 next year, and will then grow its dividend by 3% per year, in perpetuity. What is the stock's present value under an opportunity cost of capital of 10% (Round to the nearest dollar. So if you think the answer is $12.33, enter 12 )? Numeric Response

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